PEDC News

Equinor completes acquisition of the UK Rosebank project

Equinor and Chevron have completed their transaction announced in October 2018, whereby Equinor has acquired Chevron’s 40% operated interest in the Rosebank project in the West of Shetland region of the UK Continental Shelf.

Rosebank further strengthens Equinor’s UK upstream portfolio which includes the Mariner development, expected to start commercial production during the first half of 2019.

Equinor’s UK portfolio also includes attractive exploration opportunities and three producing offshore wind farms. In addition, Equinor is the largest supplier of crude oil and of natural gas to the UK.

The Pasargad Energy Development Company, PEDC, is owned by the Pasargad Financial Group, in which one of its distinctive shareholders is Pasargad Bank, the leading Iranian private bank with a continuous high growth rate.